Greece raises VAT registration threshold
- 14 August 2014 | Richard Asquith
Greece has raised the VAT registration threshold for resident companies from Euro 5,000 turnover per annum to Euro 10,000.
The change is aimed at raising the number of small enterprises that do not need to require with the Greek VAT compliance, and so help them prosper. The move is based on a recommendation by the Organisation for Economic Cooperation and Development (OECD).
EU VAT Registration Thresholds
The broad EU VAT registration thresholds are governed by the EU VAT Directive. This change will stay within those limits. Other EU member states have recently implemented similar changes which have gone above the Directive limits, and this has required a special application to the European Commission.
Belgium increased its VAT registration threshold to Euro 15,000 this year. Italy increased its VAT registration threshold to Euro 60,000 at the start of 2014.